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Andrew Has Decided That He Is Going to Rob a Bank

question 27

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Andrew has decided that he is going to rob a bank to pay off his debts after losing his job. He buys a gun from a kid who lives in an economically depressed section of town, but he doesn't ask where the gun came from. On the day of the robbery, Andrew decides that he will shoot at the ceiling inside the bank to get everyone's attention. But as he shoots, the bullet ricochets and strikes a bank teller. The teller dies instantly, and in the process of Andrew's getaway, he drops his gun. The "hierarchy rule" would apply to Andrew's situation. To which reporting mechanism does this rule apply?


Definitions:

Materiality

The significance or importance of an event, fact, or piece of information in influencing a decision, particularly in the context of finance or law.

Reasonable Reliance

The expectation that a party can depend on the statements or promises of another, often a factor in legal cases involving contracts or fraud.

Liability

The legal responsibility for one's actions or the obligation to compensate for harm or losses caused to another party.

Fraud

The intentional deception or dishonesty by an individual or entity, with the purpose of gaining some unfair or unlawful advantage or causing some unjust loss or harm to another party.

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